Are Real Estate Agents Overpaid?

My broker, Matt Beall (PB), posted an article that asked the question, are real estate agents overpaid and overrated? To summarize his article, "yes" and "no".

Matt argues that:

• Realtors who justify their high commissions by the value of their "network" and "closing skills" have no right to charge what they do.
• Agents investing huge sums of money on Internet marketing, putting their client's properties in front of buyers, deserve a return on their investment.

It's an interesting read and makes you think about where the real estate industry is going. There has been such a huge movement to the Internet - sparked by buyers. Will agent's commissions eventually reflect this shift?